ROMNEY ON WALL STREET PROTESTS: ‘IT’S DANGEROUS, THIS CLASS WARFARE’

By Pat Garofalo/Think Progress


Ongoing protests on Wall Street are in their third week, as demonstrators continue to speak out against corporate greed and growing income inequality. Several labor unions have lent their support to the protests, with AFL-CIO President Richard Trumka saying that “being in the streets and calling attention to issues is sometimes the only recourse you have.” When White House Press Secretary Jay Carney was asked about the protests, he replied, “to the extent that people are frustrated with the economic situation, we understand.” However, 2012 GOP presidential hopeful Mitt Romney does not approve of the protests. “I think it’s dangerous, this class warfare,” said Romney — who has become a favorite of Wall Street donors — when asked about the protest.

After Relentlessly Promoting Tea Party Protests, Fox Attacks Wall Street Protesters

From Media Matters

Fox News has begun attacking participants of the "Occupy Wall Street" protests across the country, claiming they are "deluded" and have "absolutely no purpose or focus in life." Fox's attacks stand in stark contrast with its relentless promotion and support of the tea party protests of 2009 and 2010.

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Fox Attacks "Deluded" Protesters Who Have "Absolutely No Purpose Or Focus In Life"

Johnson: "I Would Think" Wall Street Protesters "Are Deluded In A Lot Of Ways." On the October 3 edition of Fox News' Fox & Friends, Fox News legal analyst Peter Johnson Jr. attacked the "Occupy Wall Street" protesters, claiming, "Clearly, I would think these folks are deluded in a lot of ways and probably provide the best argument for national service for 18-year-olds that we have ever seen." Johnson later said of the protests: "I don't know what it is. I don't think they know what it is. But it's costing Americans millions of dollars in tax dollars in order to arrest them." [Fox News, Fox & Friends, 10/3/11, via Media Matters]

Fox's Watters: Wall Street Protesters Are "The Sludge" Of "Every Left-Wing Cause." On the September 30 edition of Fox News' The O'Reilly Factor, Fox News producer Jesse Watters said of the protests: "I think if you put every single left-wing cause into a blender and hit power this is the sludge you'd get. And it's basically anti-capitalism. And they want to redistribute the wealth. But if you eliminate capitalism, there is no wealth to redistribute." [Fox News, The O'Reilly Factor, 9/30/11, viaMedia Matters]

Guilfoyle: Protesters Have "Absolutely No Purpose Or Focus" And Are "Just Looking To ... Dirty The Streets." On the September 30 edition of Fox News' Hannity, Fox News host Kimberly Guilfoyle said of the protests: "It's like Woodstock meets Burning Man meets people with absolutely no purpose or focus in life. No wonder, they have nothing but free time to be down there. They make up a slogan or a cause as they go along. And they are just looking to, like, go out there and dirty the streets. And they really don't have any, like, idea about what they are doing there." During the segment, an on-screen graphic stated, "Lunatics of the left wing." From Hannity:

[Fox News, Hannity, 9/30/11, via Media Matters]

Doocy Complains Boston Protesters Got "Between Me And A Steak Dinner." On the October 3 edition of Fox News' Fox & Friends, co-host Steve Doocy complained that a Boston branch of the Wall Street protests got "between me and a steak dinner." Later, co-host Brian Kilmeade asked, "What's their message?" Doocy replied "They don't know." Co-host Gretchen Carlson called the protesters "slightly disingenuous." [Fox News, Fox & Friends, 10/3/11]

Fox Relentlessly Promoted And Endorsed Tea Party Protests Of 2009 and 2010

Fox News "Hop[ped]" Aboard Tea Party Express With Rampant Promotions, Live Coverage. On August 28, 2009, Fox News devoted live coverage and publicity to the kickoff of the Tea Party Express. Fox News' coverage followed numerous promotions of the tour on Fox News, Fox Business, Fox Nation, and FoxNews.com. [Media Matters, 8/28/09]

Fox News' Embedded Reporter Jenkins Touted Tea Party Express. Despite his claim to be "simply reporting" on 2009 Tea Party Express rallies, Fox News correspondent Griff Jenkins, who traveled with the cross-country bus tour, repeatedly expressed support for the protesters, whom he referred to as "the America that Washington forgot." [Media Matters, 9/2/09]

Tea Party Express Highlighted Fox News Coverage To Raise Money. In a fundraising email to supporters, the Tea Party Express highlighted Fox News' coverage while soliciting donations, writing that "CNN and Fox News have confirmed they will be covering the launch of the 'Tea Party Express II: Countdown to Judgment Day' -- and other national networks are arranging to cover the tour as well." [Media Matters, 10/20/09]

"Back By Popular Demand": Fox News Promoted Tea Party Express II. During the October 25, 2009, edition of Fox News' Fox & Friends Sunday, co-host Dave Briggs hosted then-Tea Party Express co-chairman Mark Williams and tea party activist Lloyd Marcus, introducing them by stating: "Well, the bus tour that took the country by storm is back by popular demand. The Tea Party Express kicks off its second national tour today in San Diego, California." Briggs invited Williams -- who was a known birther -- to plug the organization's website and closed the interview by a playing portion of Marcus' "Tea Party Anthem." [Media Matters, 10/25/09]

Fox Nation Promoted The "Tea Party Express II." Fox Nation promoted the Tea Party Express II, asking readers, "Will You Join the Tea Party Express II?" Fox Nation also advertised the tour's start date and planned stops. [Media Matters, 10/13/09]

Tea Party Express Praised "Great Television News Coverage" From Fox News And CNN. In an email to supporters, the Tea Party Express praised "some of the great television news coverage this effort has received. Media coverage is an important aspect of the Tea Party Express tours -- it's all about getting our message out to millions of Americans -- to inform them that there is an active political resistance against the socialist agenda of Barack Obama, Nancy Pelosi and Harry Reid." [Media Matters, 11/17/09]

Fox Highlighted "Major Grassroots Support" Of Fox-Promoted Tea Party Express II. In October 2009, Fox Nation and Fox News both promoted the kickoff of the "Bigger & Better" Tea Party Express II. Tea Party Express' Mark Williams appeared on the November 12, 2009, edition of Fox & Friends to discuss the conclusion of the Tea Party Express II tour. Co-host Gretchen Carlson noted that the tour "focused on small town U.S.A.," while Steve Doocy lauded the tour for its "major grassroots support." [Media Matters, 11/2/10]

Fox Provided Unending Coverage Of Tea Party Express III Kickoff Rally, Along With Its Keynote Speaker. Fox News provided all-day coverage of the March 27, 2010, kickoff rally for the Tea Party Express III bus tour, with the network's hosts and on-site reporter Casey Stegall frequently praising the rally's participants. At one point, Fox aired a graphic of the bus over the text, "Conservative Woodstock?" Fox provided live coverage of the event's keynote address -- given by Sarah Palin. [Media Matters, 11/2/10] 

"Party On!" Fox Relentlessly Promoted October 2010 Tea Party Express Tour IV. Despite News Corp. chairman and CEO Rupert Murdoch's statement that he doesn't think Fox "should be supporting the Tea Party," Fox News and Fox Business relentlessly promoted the Tea Party Express, devoting numerous segments to the launch of its October 2010 tour -- the fourth such tour -- as well as hosting its chairman for softball interviews. [Media Matters, 4/8/10, 10/19/10]

How Unequal We Are: The Top 5 Facts You Should Know About The Wealthiest One Percent Of Americans

By Zaid Jilani/Think Progress

As the ongoing occupation of Wall Street by hundreds of protesters enters its third week — and as protests spread to other cities such as Boston and Los Angeles — demonstrators have endorsed a new slogan: “We are the 99 percent.” This slogan refers an economic struggle between 99 percent of Americans and the richest one percent of Americans, who are increasingly accumulating a greater share of the national wealth to the detriment of the middle class.

It may shock you exactly how wealthy this top 1 percent of Americans is. ThinkProgress has assembled five facts about this class of super-rich Americans:

1. The Top 1 Percent Of Americans Owns 40 Percent Of The Nation’s Wealth: As Nobel Laureate Joseph Stiglitz points out, the richest 1 percent of Americans now own 40 percent of the nation’s wealth. Sociologist William Domhoff illustrates this wealth disparity using 2007 figures where the top 1 percent owned 42 percent of the country’s financial wealth (total net worth minus the value of one’s home). How much does the bottom 80 percent own? Only 7 percent:

As Stiglitz notes, this disparity is much worse than it was in the past, as just 25 years ago the top 1 percent owned 33 percent of national wealth.

2. The Top 1 Percent Of Americans Take Home 24 Percent Of National Income:While the richest 1 percent of Americans take home almost a quarter of national income today, in 1976 they took home just 9 percent — meaning their share of the national income pool has nearly tripled in roughly three decades.

3. The Top 1 Percent Of Americans Own Half Of The Country’s Stocks, Bonds, And Mutual Funds: The Institute for Policy Studies illustrates this massive disparity in financial investment ownership, noting that the bottom 50 percent of Americans own only .5 percent of these investments:

4. The Top 1 Percent Of Americans Have Only 5 Percent Of The Nation’s Personal Debt:

Using 2007 figures, sociologist William Domhoff points out that the top 1 percent have 5 percent of the nation’s personal debt while the bottom 90 percent have 73 percent of total debt:

5. The Top 1 Percent Are Taking In More Of The Nation’s Income Than At Any Other Time Since The 1920s: Not only are the wealthiest 1 percent of Americans taking home a tremendous portion of the national income, but their share of this income is greater than at any other time since the Great Depression, as the Center for Budget and Policy Priorities illustrates in this chart using 2007 data:

As Professor Elizabeth Warren has explained, “there is nobody in this country who got rich on his own. Nobody…Part of the underlying social contract is you take a hunk of that and pay forward for the next kid who comes along.” More and more often, that is not occurring, giving the protesters ample reason to take to the streets.

UPDATE

For an excellent resource about how much income Americans at these different income levels have, see the Tax Policy Center. The top one percent of Americans have an average income of $1.5 million.